TRANSPORT NEWS

Cybertruck Set For Release 

The Tesla Cybertruck set to begin its first deliveries on November 30, represents a new chapter for Tesla, arriving four years after its initial reveal. This launch is notable as it introduces Tesla's first new passenger model in over three years, marking a shift from the company's recent focus on enhancing its existing vehicle lineup. The Cybertruck's distinct design and material choice reflect Tesla's innovative approach, but also bring forth unique challenges in production and market acceptance.

A standout feature of the Cybertruck is its stainless-steel exoskeleton. This material, shared in its development with SpaceX, provides a robust, dent-resistant exterior without the need for painting. However, this unconventional choice has contributed to production complexities, evidenced by the vehicle's delayed launch. The design, characterized by its sharp, angular form, departs from traditional truck aesthetics, aligning with Elon Musk's vision of creating a vehicle that diverges from the norm.

The unveiling event at the Tesla Gigafactory in Austin is anticipated to be a significant occasion, reflecting Tesla's flair for dramatic presentations. While the event is a closed affair for select shareholders and VIP guests, a wider audience will be able to view it through a livestream, allowing global participation in this landmark moment.

Tesla's journey with the Cybertruck has been a mix of ambition and hurdles. The challenges in design and production underscore the complexities of bringing an unconventional vehicle to the market. The company's aim to eventually produce about 250,000 Cybertrucks annually by 2025 highlights its long-term commitment to the vehicle's success.

The Cybertruck's reception and Tesla's ability to efficiently scale up its production will be crucial in determining its impact in the automotive market. This launch is not just a test of a new vehicle's appeal, but also a reflection of Tesla's ongoing ability to innovate and challenge industry standards while navigating the practicalities of manufacturing and market demands.

How Good is Your Financial Advisor?

Between multiple asset classes, as well as thousands of stocks and ETFs, investors have never had more options for their portfolios, making financial advisors more important than ever.

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If you aren’t satisfied with your advisor’s performance, Rainbook can also pair you with a new advisor more aligned with your investing goals, to ensure your financial health is taken care of.

VIDEO OF THE WEEK

Asking A Retired Shipping Billionaire If It Was Worth It

We learn how Shipowner Michael Hudner, CEO B+H Shipping went from a desk job to owning over 140 ships and overcoming adversity on his journey.

Michael chats with Noah Kagan about various topics, including how Michael started out in real estate, how his dream lead to $1B in ships, using other people’s money, regrets and also advice to people getting started.

GLOBAL TRADE SNIPPETS

Royal Caribbean takes ownership of the world’s biggest cruise ship. The 20-deck, 250,800-tonne ship was officially handed over to the cruise company at the Meyer Turku shipyard in Turku, Finland, on November 27. Its inaugural voyage is set to depart from Miami, Florida on January 27, 2024 and will tour the Caribbean for seven days.

China Links Digital Yuan to ‘World’s Biggest Commodities Market’. A state-owned Chinese bank will link the digital yuan to the “world’s biggest small commodities market” via the latter’s payment platform. Per the People’s Daily, the new “cross-border” CBDC drive is the brainchild of the Bank of China and the city of Yiwu.

The Last Lighthouse Keeper in America. Sally Snowman, for nearly 20 years, has served as the last official keeper and historian of Boston Light, America's first lighthouse, located on Little Brewster Island in Boston's harbor.

Bankrupt Bed Bath & Beyond files $100M+ mega-claim against MSC. The bankruptcy estate of former retail giant Bed Bath & Beyond (BBBY) continues its relentless pursuit of shipping lines for alleged damages suffered during the supply chain crisis. It has already filed $31.7 million in claims against Hong Kong shipping line OOCL and $7.7 million in claims against Taiwan’s Yang Ming.

TRADE NEWS

Global Merchandise Trade Rebounds But Still Risky Times Ahead

The World Trade Organization's (WTO) latest Goods Trade Barometer, released on November 27, signals a rebound in global merchandise trade volumes, primarily propelled by an upsurge in automobile sales, production, and electronic components trade. Despite this positive trend, the global economic landscape remains mired in uncertainty due to mixed economic indicators and escalating geopolitical tensions.

Standing at 100.7, the current barometer index surpasses its previous reading of 99.1 from August, nearing the baseline of 100. This elevation implies that merchandise trade volumes are expected to align with the medium-term trend in the latter half of 2023. However, the uncertainty is still pronounced, fueled by inconsistent economic data and intensifying geopolitical strife.

The Goods Trade Barometer serves as a composite leading indicator, offering real-time insights into the trajectory of global merchandise trade against recent trends. Readings above 100 indicate higher-than-trend trade volumes, while readings below 100 suggest a decline or imminent drop in trade.

In the second quarter of 2023, the volume of world merchandise trade remained stagnant, showing a marginal 0.2% increase from the previous quarter but a 0.5% decline year-on-year. Anticipations for the third quarter are more optimistic, thanks to accelerated GDP growth in the United States and China, though the sluggish economy of the European Union continues to dampen global demand.

Regardless of these factors, a significant year-on-year trade growth is expected in the fourth quarter, contrasting the lower trade volumes from the same period last year, which were affected by high energy prices, soaring interest rates, and pandemic-related disruptions. This aligns with the WTO's October 5, 2023 forecast, predicting a 0.8% increase in global trade volume for 2023. While the forecast remains stable, the trade outlook faces increased downside risks, particularly in light of recent events in the Middle East.

The barometer's component indices present a mixed picture, with some indices like those for automobile sales, production (110.0), and electronic components trade (109.8) climbing well above the trend. In contrast, indices for air freight (100.3), export orders (99.4), and container shipping (98.0) hover around the trend line. The raw materials index (95.6), however, falls below the trend, possibly due to the impact of high interest rates on weakening property markets and the surging demand for electric vehicles, which could explain the robust performance of the automotive and electronics sectors. See full report here

SHIPWRECK OF THE WEEK ⚓️☠️ 

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